CFPB TRID Webinar from April 12 Now Available
May 5, 2016
A webinar the Consumer Financial Protection Bureau (CFPB) held April 12 that addressed several industry questions regarding the TILA-RESPA Integrated Disclosures (TRID) is now available.
The webinar addressed a question posed by ALTA whether the charge for an owner’s policy can be disclosed as a negative number under TRID. Click here to listen to the portion of the webinar that addresses this question.
Other topics covered included:
- General principles
- APR
- Total Interest Percentage
- Flood insurance premiums
- Escrow accounts for refinance transactions
- Separate disclosures (borrower’s and seller’s information, creditor’s copy, seller’s Closing Disclosure, seller-paid costs, seller-paid real estate commissions)
- Assumptions
- Property taxes
- Fees collected prior to consummation
- Calculating cash to close—loan amount
- Principal curtailments
- Construction lending—interest reserve
Contact ALTA at 202-296-3671 or [email protected].